N.J. Admin. Code § 16:76-2.4

Current through Register Vol. 57, No. 1, January 6, 2025

Section 16:76-2.4 - Source and allocation of funds

(a) The funds utilized for the Private Carrier Capital Improvement Program are provided by the FTA or by the Transportation Trust Fund of the State of New Jersey. Accordingly, expenditures of PCCIP funds are subject to the requirements of the FTA and to the requirements of the Transportation Fund Act, N.J.S.A. 27:1B-1et seq.

(b) NJ TRANSIT will allocate the PCCIP funds to all participating carriers on an annual basis in proportion to the level of regular route bus service operated by each carrier, as measured by the peak vehicle requirements for the regular route bus service operated by each carrier.

(c) The allocation of PCCIP funds shall be weighted 2:1 between transit and cruiser-type buses. This weighting is intended to recognize the normally higher maintenance costs and shorter vehicle component lives associated with the all-day operation of local urban service. For the purpose of this allocation, suburban type buses shall be classified as cruiser-type buses.

(d) NJ TRANSIT may retain up to 10 percent of the total allocation of PCCIP funds each year to cover the cost to NJ TRANSIT of administering its private carrier programs and the costs associated with the expenditure of PCCIP funds.

N.J. Admin. Code § 16:76-2.4

Adopted by 54 N.J.R. 90(b), effective 1/3/2022